Pointcorp Achieves Almost 95 Per Cent Apartment Settlements, Dismisses Market Concerns
13 Jan 2017
Pointcorp has announced the settlement of 130 of its 140 Vida apartments on the river in Brisbane’s West End, dismissing talk of oversupply and settlement risk in the apartment market.
The riverfront apartments in West End are marketed as ‘inspired’ featuring architecture and interiors by Cottee Parker. The $105 million project was financed by BankWest and Thakral Capital Australia (TCAP).
Released in October 2016, Vida is one of the first major new developments in the city to be released since 2008 that specifically targets owner-occupiers. The Cottee Parker-designed development will feature 148 one, two and three bedroom apartments, and premium five bedroom-plus study penthouses across two 12-level buildings on Buchanan Street.
Each of the two buildings will feature a roof top pool, gymnasium and recreational area, with four ground floor retail spaces that will form an open air plaza, connecting Buchanan Street with the Brisbane River and activating the street level precinct.“This is a true absolute riverfront position and the apartments will feature the high level of fittings, finishes and generous floor plans to do it justice,” said Pointcorp director Chris Vitale.
Located within 2km of the Brisbane CBD, Vida has been designed to take full advantage of its position, with about 50 per cent of the apartments featuring absolute river views. The Pointcorp sales team said the apartments represented significant value, considering their position and design, starting from just $365,000 for one bedroom Buchanan Street facing apartments and $460,000 for riverfront.
Two bedroom apartments start from $509,000 or $660,000 for those with river views, while the eight three bedroom apartments are priced from $1.2 million and the four luxury, two-storey penthouses, each featuring river views, start from $3 million.
“Since the GFC, most new developments have been designed with smaller one and two bedroom apartments to suit investors, the most active sector in recent years, but this has starved the market of apartments with the space required by owner-occupiers.
“As a result, we believe there is strong pent-up demand for this style of apartment, particularly in such a prime location so close to the Brisbane CBD, and Vida has been designed to fill this void.”
Vida is described as a bold statement in urban chic. “Taking inspiration from the area’s industrial heritage, open plan living captures a raw beauty that’s been carefully refined with exacting detail,” its website says.